1. Background

In line with the Government of Rwanda’s broader vision to increase electronic payment transactions to 80% (NST1) and to use payment systems to advance our journey to become a high-income country by 2050. Financial inclusion is one key pillar of Rwanda’s development where we expect to have 60% of Rwandans financially included towards a cashless economy.

Rwanda is actively promoting digital Payments for every level of financial transactions. Through this, various Government institutions and private sector players are working on the implementation of the Rwanda National Digital Payment System to establish an interoperable retail payment system among financial service providers.

The use of interoperable payment systems will contribute to the achievement of the country’s vision and facilitate a cashless economy by creating an enabling environment for product and service innovation, which
provides affordable, effective, and relevant payment services to Rwandans.

Other than that, we aim to create a fintech ecosystem in Rwanda with 2 key strategic priorities including positioning Rwanda as a global financial center and as a proof-of-concept innovation hub while ensuring financial system stability and depth to drive economic and social transformation.

This is in line with its ICT outreach efforts that promote ICT enabled Government and banking services, providing specific ICT tools to facilitate digital payment and instituting conducive strategies/policies.

These efforts are responsible for much of the rapid acceptance of electronic financial services and the adoption of e-transactions. Observing the current trend, it is fair to conclude that the electronic financial services are getting more common among citizenry and playing a crucial role in transforming the business processes in Rwanda.

1. Overall Responsibilities

The Ministry of ICT and Innovation (MINICT) is looking for a financial services strategy specialist who will support the ministry’s various digital financial services programs. The specialist is expected to develop a robust understanding of the financial services ecosystem and engage with stakeholders across the industry functionally to ensure success. He/she will oversee the various financial services programs at MINICT and other stakeholders. These programs include but are not limited to cashless programs, fintech strategy implementation, payment systems and interoperability, fundraising strategies for other key projects and sectors.  They will coordinate and identify policy initiatives to support the adoption of financial services and coordinate its implementations.

1. Scope of work and expected deliverables

• Oversight on all digital financial inclusion initiatives that require MINICT leadership or involvement.
• lead on policy, action items, coordination of various government agencies & institutions
• Provide advisory to the different stakeholders on various financial services programs.
• Coordinate implementation of all digital financial services programs championed by the Ministry.
• Develop and help manage digital financial services programs go-to-market strategies
• Develop the KPIs for measuring success of existing initiatives within the sector.
• Build a framework for analysing and supporting Fintech opportunities in Rwanda especially for the private sector.
• Provide strategic thought leadership on how to evaluate and improve delivery of national digital financial services programs.
• Be the focal point for all digital financial services programs developed by the ministry’s partners including other government institutions, nonprofit organizations, and private sector.
• Drive a citizen centric focus in our goals, strategy, evaluation of success across all programs.
• Regularly communicate the status of all initiatives and make recommendations for any required improvements.

1. Qualifications

Education

• Bachelor’s degree in Information and Communication Technology, Computer science, Banking, Business Management, finance or related field is mandatory. A master’s degree is preferred.

Experience

• At least 5years of experience working within financial inclusion, fintech, banking, payments industry is mandatory
• Experience in developing and implementing projects/programs in digital financial services/payments is highly desired
• Experience with policy formulation and design/contribution to national payment strategies, fintech programs is highly desired
• Experience supporting or developing digital financial products/solutions in Rwanda or on the continent.
• Strong project management skills
• Ability to create and maintain stakeholder relationships.
• Excellent writing and presentation skills.

1. Reporting Mechanisms and Expected Deliverables

The Financial Services Strategy specialist will report to the Directorate General of Innovation and Emerging Technologies at MINICT.

The consultant will be expected to produce monthly reports of activities and an annual report.

1. Duration of Work

The assignment will be a 1-year contract with potential to be renewed if the funding is available.

HOW TO APPLY:

Interested candidates should submit their applications by e-mail to: recruitment@minict.gov.rw  no later than 3^rd March 2024.

Please note that applications received after the closing date will not be considered. Only short-listed candidates will be contacted.